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Covalis Capital Portfolio holdings

AUM $1.63B
1-Year Est. Return 27.84%
This Fund
S&P 500
This Quarter Est. Return
+1.2%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$274M
AUM Growth
-$159M
Cap. Flow
-$158M
Cap. Flow %
-57.82%
Top 10 Hldgs %
63.54%
Holding
137
New
14
Increased
3
Reduced
7
Closed
54

Top Buys

Rank Stock Value
1
EMN icon
Eastman Chemical
EMN
+$25.4M
2
EXC icon
Exelon
EXC
+$20.8M
3
LICY
Li-Cycle Holdings Corp.
LICY
+$17.5M
4
SOL
Emeren Group
SOL
+$8.46M
5
TIMB icon
TIM SA
TIMB
+$7.72M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$40M
2
IFF icon
International Flavors & Fragrances
IFF
+$21.5M
3
HUN icon
Huntsman Corp
HUN
+$19.6M
4
DAL icon
Delta Air Lines
DAL
+$19.2M
5
XEL icon
Xcel Energy
XEL
+$15.3M

Sector Composition

Rank Sector Weight
1 Financials 26.35%
2 Industrials 17.63%
3 Technology 12.48%
4 Materials 12.12%
5 Utilities 8.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACII
126
DELISTED
Atlas Crest Investment Corp. II
ACII
– –
-50,000
Closed -$488K
LMACW
127
DELISTED
Liberty Media Acquisition Corporation Warrants
LMACW
– –
-13,999
Closed -$75K
WPCB.WS
128
DELISTED
Warburg Pincus Capital Corporation I-B Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
WPCB.WS
– –
-19,999
Closed -$81K
HUGS.WS
129
DELISTED
USHG Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
HUGS.WS
– –
-18,172
Closed -$81K
ATAQ.WS
130
DELISTED
Altimar Acquisition Corp III Warrants
ATAQ.WS
– –
-12,498
Closed -$59K
CLIM.WS
131
DELISTED
Climate Real Impact Solutions II Acquisition Corporation Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock, each at an exercise price of $11.50 per share
CLIM.WS
– –
-39,365
Closed -$183K
TPGY
132
DELISTED
TPG Pace Beneficial Finance Corp.
TPGY
– –
-655,852
Closed -$6.92M
AUS.WS
133
DELISTED
Austerlitz Acquisition Corporation I Warrants, each whole Warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share
AUS.WS
– –
-49,999
Closed -$262K
ENIA
134
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
– –
-113,075
Closed -$661K
SPAQ
135
DELISTED
Spartan Acquisition Corp. III
SPAQ
– –
-413,828
Closed -$4.09M
KCAC
136
DELISTED
Kensington Capital Acquisition Corp. II
KCAC
– –
-34,732
Closed -$288K
MBAC.U
137
DELISTED
M3-Brigade Acquisition II Corp. Units, each consisting of one share of Class A common stock, and one-third of one redeemable warrant
MBAC.U
– –
-333,331
Closed -$1.69M
2 3 4 5
6

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SFG
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PRA
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SC
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SWA
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Covalis Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Covalis Capital held 137 positions worth $274M, down 37% from $433M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalis Capital withdrew a net $158M in Q4 2021, closing 54 positions and reducing 7 holdings. Its most notable exit was PG&E, an estimated $40M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 21% a quarter earlier, followed by Industrials and Technology.

Against the trend, Covalis Capital opened a new position in Eastman Chemical worth $27.6M.

  • Covalis Capital's largest Q4 2021 buy was Eastman Chemical: 228,472 shares worth $27.6M.
  • Covalis Capital added most to Li-Cycle Holdings Corp. in Q4 2021, an estimated $17.5M increase.
  • Covalis Capital's biggest Q4 2021 reduction was International Flavors & Fragrances, cutting an estimated $21.5M.
  • Covalis Capital fully exited PG&E in Q4 2021, selling an estimated $40M.
  • Covalis Capital's ten largest holdings make up 64% of its $274M portfolio in Q4 2021.
  • Covalis Capital opened 14 new positions and closed 54 in Q4 2021.
  • Covalis Capital's portfolio value fell 37% quarter-over-quarter to $274M.

Based on Covalis Capital's 13F filing for Q4 2021, filed 14 Feb 2022.